Software integration and development company Software AG has partnered with business and IT consultancy Syracom to introduce a new application for automating exception and investigation management of Swift-based financial transactions.
Process INQuiries Management System, PINQ, is based on components of Software AG's webMethods suite. It includes webMethods ESB and webMethods BPMS process design, management, execution, and monitoring software.
Software AG said banks and other financial institutions can use PINQ to implement an automated, rules-based, and auditable approach for investigating, routing, and resolving discrepancies in Swift transactions.
Dr Peter Kurpick, chief product officer and member of the executive board at Software AG, said: "The PINQ solution uses configurable business rules and the underlying Swift network to manage, review, and rectify each inquiry automatically. What is more, it's a highly extensible solution that can be easily extended to all stakeholders as it fully supports all applicable Swift messaging types."
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